Frank Selvaggi, founding and managing partner at Altman, Greenfield & Selvaggi, will receive Variety’s Business Manager Elite Award today for his notable impact on business management and tireless dedication to philanthropy. The breakfast at the Montage Beverly Hills is sponsored by City National Bank, and honors Selvaggi, who serves on the board of directors of the Gay & Lesbian Victory Fund, the nation’s largest LGBT political action committee, for his commitment to the LGBT cause.

Selvaggi co-founded the New York City accounting firm in 1986 with partner Abe Altman. “I was only 26 — pretty young to make partner — and it was just us, one accountant, a bookkeeper and a receptionist,” he recalls, “and we’ve been specializing in business management for the entertainment industry ever since.”

Today, that practice has grown to a staff of 90, along with a Los Angeles office, and represents high-net-worth clients across the entertainment industry, including Sarah Jessica Parker, Anne Hathaway, Kevin Spacey, Edward Norton, Rob Marshall and Tony Kushner.

“We act almost like their home office,” Selvaggi says. “We provide banking and bookkeeping services, do all their tax returns and filings, help with their estate planning and also guide their investments — anything of that nature.”

For Selvaggi and his team, it’s “pretty much a 24/7 job, which is what it takes. I’ve been doing it for 30 years now, and it’s very much about service and being available to your clients — even at 2 a.m. if necessary.”

He notes that business management, “is extremely competitive, especially in California, and to do your job effectively you have to love what you do, which I do.”

Business Managers Elite Report 2012
High tech puts coin in bizzers’ coffers | Commitment to clients and philanthropy | Guardians of Hollywood lives